Glenmede Trust Co. NA Takes Position in Restaurant Brands International Inc. $QSR

Key Points

• Glenmede Trust purchased 19,784 shares of Restaurant Brands International, valued at approximately $1.46 million. Institutional investors collectively own 82.29% of QSR’s outstanding stock.
• Restaurant Brands International reported quarterly EPS of $0.86, beating estimates by $0.03, while revenue rose 7.3% year over year to $2.26 billion.
• Analysts maintain a “Moderate Buy” consensus rating, with an average price target of $83.86 versus the stock’s reported price of $74.31.

Glenmede Trust Co. NA purchased a new position in shares of Restaurant Brands International Inc. (NYSE:QSR - Free Report) TSE: QSR in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 19,784 shares of the restaurant operator's stock, valued at approximately $1,462,000.

Several other institutional investors and hedge funds have also made changes to their positions in QSR. Western Wealth Management LLC acquired a new position in Restaurant Brands International during the first quarter worth about $28,000. Bank of America Corp DE grew its position in shares of Restaurant Brands International by 143.9% in the first quarter. Bank of America Corp DE now owns 4,932,662 shares of the restaurant operator's stock valued at $364,524,000 after purchasing an additional 2,910,454 shares during the last quarter. Strategic Investment Advisors MI grew its position in shares of Restaurant Brands International by 77.3% in the first quarter. Strategic Investment Advisors MI now owns 10,946 shares of the restaurant operator's stock valued at $810,000 after purchasing an additional 4,772 shares during the last quarter. Arkadios Wealth Advisors increased its stake in shares of Restaurant Brands International by 1.8% during the 1st quarter. Arkadios Wealth Advisors now owns 54,726 shares of the restaurant operator's stock worth $4,044,000 after purchasing an additional 994 shares in the last quarter. Finally, Guardian Partners Inc. increased its stake in shares of Restaurant Brands International by 3.3% during the 1st quarter. Guardian Partners Inc. now owns 9,493 shares of the restaurant operator's stock worth $702,000 after purchasing an additional 305 shares in the last quarter. 82.29% of the stock is currently owned by hedge funds and other institutional investors.

Restaurant Brands International Trading Up 0.6%

NYSE QSR opened at $74.31 on Thursday. The firm has a market capitalization of $25.95 billion, a price-to-earnings ratio of 26.16, a PEG ratio of 2.16 and a beta of 0.50. The company has a debt-to-equity ratio of 2.55, a quick ratio of 0.90 and a current ratio of 0.99. Restaurant Brands International Inc. has a one year low of $61.33 and a one year high of $81.96. The company's 50 day moving average price is $73.79 and its 200 day moving average price is $73.59.

Restaurant Brands International (NYSE:QSR - Get Free Report) TSE: QSR last released its quarterly earnings data on Wednesday, May 6th. The restaurant operator reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.03. Restaurant Brands International had a net margin of 9.96% and a return on equity of 32.80%. The company had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same period in the previous year, the firm earned $0.75 earnings per share. Restaurant Brands International's revenue for the quarter was up 7.3% on a year-over-year basis. On average, sell-side analysts predict that Restaurant Brands International Inc. will post 4.04 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently issued reports on QSR. Scotia upped their target price on Restaurant Brands International from $81.00 to $83.00 and gave the company a "sector perform" rating in a research note on Thursday, May 7th. Royal Bank Of Canada set a $85.00 price target on shares of Restaurant Brands International and gave the stock an "outperform" rating in a report on Tuesday, July 28th. Robert W. Baird lifted their price target on shares of Restaurant Brands International from $72.00 to $80.00 and gave the company a "neutral" rating in a report on Thursday, May 7th. UBS Group boosted their price objective on shares of Restaurant Brands International from $85.00 to $90.00 and gave the company a "buy" rating in a research note on Monday, May 4th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on Restaurant Brands International from $86.00 to $85.00 and set a "buy" rating for the company in a report on Thursday, July 9th. Fifteen investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $83.86.

Restaurant Brands International Company Profile

Restaurant Brands International Inc NYSE: QSR is a global quick-service restaurant company formed through the combination of established brands. The company's principal holdings include Burger King, Tim Hortons and Popeyes, each of which operates under its own brand identity and menu. Restaurant Brands International's business is centered on developing and expanding these franchised restaurant systems, supporting franchisees with brand management, supply chain coordination, and marketing programs.

RBI's restaurants offer a range of quick-service food and beverage products: Burger King is known for its flame-grilled hamburgers and sandwiches, Tim Hortons for coffee, baked goods and breakfast items, and Popeyes for Louisiana-style fried chicken and seafood.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source